UPDATE: Stifel Raises PT on K12 Following Solid 4Q Report

In a report published Friday, Stifel analyst Jerry Herman reiterated a Buy rating on

, and raised the price target from $33.00 to $39.00. In the report, Stifel noted, “LRN reported a solid 4Q, cited strong new business development activity, efforts to improve academic quality, improving funding environment, and provided comfort with existing FY14 consensus expectations. Given the continued strong growth pipeline and margin expansion opportunity, we are maintaining our Buy rating. However, given the outsized positive reaction, we are removing the stock from the Stifel Select List.” K12 closed on Thursday at $35.55.